What if everything you see, smell, hear, say and touch was recorded. Microsoft Research was founded in 1991 and has more than 700 people in more than 55 areas. Microsoft Research works very closely with many universities worldwide.
SenseCam - a small black box that captures images based on sensors that trigger the taking of pictures. Target is to have a device the size of a fifty-cent piece that captures data. The price point for this is fairly reasonable. Built from off the shelf components.
Storage needs are increasing. In todays storage terms the cost of storage for a lifetime is $10m today. In 10 years the cost of 10 peta bits of storage will likely be less than $10K for a lifetime of images. Moore's Law suggests that by 2019 a $1000 computer will match the computational power of the human brain.